Whether you are building a tax-exempt portfolio or considering a taxable municipal allocation, it is important to work with an experienced municipal bond manager.
Investment consultants and their clients can realize the following advantages by partnering with Breckinridge.
Proactive and Flexible Approach
When it comes to municipal bond investing, you can’t underestimate the importance of being flexible. With no central exchange and more than two million different municipal securities that trade infrequently, the best opportunities are often unpredictable and don’t last. Because we specialize in municipal bond portfolios, our agile team can act quickly when opportunities arise.
Broad Dealer Network
At Breckinridge, we trade with more than 125 dealers across the country. Each broker/dealer typically has access to only a small fraction of new issue and secondary market activity. Our broad dealer network enables us to identify opportunities and leverage relationships to buy better bonds at better prices.
Liquidity
With access to competitive institutional bids, Breckinridge strives to enhance a portfolio's liquidity and provide greater flexibility in either raising cash or restructuring a portfolio.
Fundamental Credit Analysis
Municipal bonds are not always the safe, simple investment they appear to be. Just recently, a large part of the market was insured and AAA-rated. Since then, the market has changed immensely and credit quality is more important than ever. Our dedicated team of credit analysts looks beyond ratings, scrutinizing each security to identify credit risks that might otherwise be overlooked.
Portfolio Structure
A portfolio's structure is as important as security selection. A well-balanced, well-structured portfolio will earn more income with less risk than a poorly structured portfolio. Our proactive approach to balancing income targets and market volatility enables us to optimize a portfolio’s structure for our clients and take advantage of changes in capital markets.
Technology
Investment in technology has been a hallmark of Breckinridge since our inception. We use technology to more efficiently and effectively manage portfolios, provide attribution, streamline reporting and consolidate data.
Tax-Aware Investing
We strive to maximize after-tax returns for every portfolio, whatever the client's tax status or state of residence.
Peace of Mind
Unlike most of our competitors, our time and resources are 100 percent dedicated to conservative municipal bond portfolio management. Unmanaged municipal bond portfolios often suffer from neglect - risks are generally ignored and opportunities can be missed. Conversely, many managed municipal bond portfolios are weakened by too much speculation. By focusing only on municipal bonds and striking the right balance of risk and return, we aim to provide a greater level of income while limiting risk.
